Australia, Policy, Projects, Renewables, Solar, Storage

Australia issues inaugural $7b green bond

The Australian Government has taken a major step towards net zero emissions by 2050 with the issuance of its inaugural $7 billion green bond.

The bond attracted strong global demand, with over $22 billion in bids from 105 investor institutions across Australia, Asia, Europe and North America.

The proceeds from the green bond will fund a range of projects that support climate change mitigation, adaptation and environmental outcomes. This includes initiatives like green hydrogen hubs, community batteries, clean transport infrastructure and biodiversity conservation programs.

“The global energy transformation represents a golden opportunity for Australia and this bond is pulling more global and domestic green capital into financing that opportunity,” Jim Chalmers said.

“Money raised will back projects that will help make Australia an indispensable part of the global economy and bring new jobs to communities all around the country.”

The government said the over-subscribed bond issue confirms Australia as an attractive destination for international green investment capital.

Facilitating more private sector financing of the net zero transition is a key part of the Albanese Government’s economic agenda outlined in last month’s budget.

“The bond demonstrates the Government’s commitment to achieve net zero emissions by 2050 and the objectives of the United Nations Sustainable Development Goals,” Chalmers said.

“The projects supported by the bond will deliver significant environmental benefits, including lowering greenhouse gas emissions, increasing Australia’s renewable energy production and bolstering our biodiversity conservation, restoration and adaptation.

“This nature positive approach ensures that as our environment thrives so too does the economy and the community.”

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